Branson-Backed OneWeb Eyes $2.5bn Launchpad
A satellite venture designed to provide low-cost internet access to billions of people and backed by Sir Richard Branson is preparing to raise billions of dollars as it seeks to get off the launchpad.
Sky News has learnt that OneWeb, whose shareholders include some of the world’s biggest companies, is to hold a beauty parade of investment banks ahead of a fundraising planned for next year.
The talks with bankers, which are at an early stage, follow a $500m investment in OneWeb in June as it seeks to build a network of solar-powered terminals that will be connected to almost 650 ‘micro satellites’ in low-earth orbit.
Sourced through Scoop.it from: news.sky.com